Urgent now Good news for Elon Musk and Tesla about the Dogecoin case
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It was decided to dismiss the 258 billion dollar lawsuit filed with the claim that Elon Musk and Tesla manipulated the price of Dogecoin. The plaintiffs who lost tens of thousands of dollars from Dogecoin will appeal.
It was decided to dismiss the 258 billion dollar Dogecoin lawsuit filed against Elon Musk and Tesla.
In the lawsuit filed by investors who lost tens of thousands of dollars in Dogecoin, it was alleged that Musk and Tesla turned Dogecoin into a Ponzi scheme. It was claimed that Musk inflated the price with Dogecoin tweets, and then Tesla further manipulated the price by announcing that it would accept Dogecoin as a payment method for souvenirs.
The court rejected the allegations by making a decision yesterday in the case of about two years. Judge Alvin Hellerstein stated that Musk's statements were of a desiring rather than factual and distortionable, and that no reasonable investor could act by relying on these statements. Hellerstein also added that it is impossible to understand the claim that Musk and Tesla made a 'pump and dump'.
Stating that they will go to appeal, the plaintiffs' lawyer Evan Spencer said, "Musk's statements and posts were not just exaggerated statements, they were much more than that. As a result, millions of people lost billions of dollars," he said. $DOGE
